South Korea christens first LNG bunker vessel
South Korea christens first LNG bunker vessel - Offshore Energy
South Korea christens first LNG bunker vessel
South Korea has held a naming ceremony for its first domestic liquefied natural gas (LNG) bunker vessel, the country’s Ministry of Trade, Industry and Energy (MOTIE) revealed.
As disclosed, the vessel Blue Whale was christened today (10 May). The ship was built by local shipbuilder Hyundai Heavy Industries (HHI) at Ulsan shipyard. The value of the contract was KRW 55.3 billion ($41.74 million).
According to MOTIE, this is the first vessel equipped with the advanced Korean-type KC-2 cargo design. The country has been developing its own cargo technologies for several years, and now, the system was updated to meet the needs of this ship.
When Blue Whale goes into service, it will be possible to supply LNG for 250 tank lorry trucks directly to the ships, MOTIE emphasized.
This is expected to “significantly reduce the time and space constraints of LNG bunkering” and increase efficiency.
To remind, in December last year, the country christened its first dual-fuel, smart electric passenger ship that integrates various information and communication technologies. The vessel was also built in Ulsan by South Korean shipbuilding company Hyundai Mipo Dockyard (HMD), part of Hyundai Heavy Industries Group.
Related Knowledge Center: Liquefied natural gas
Driven by plentiful natural gas produced from shale plays, the United States began exporting liquefied natural gas in 2016 when the Sabine Pass terminal in Louisiana opened and shipped its first cargo. Since then, additional capacity, or trains, have been added to Sabine Pass, and terminals have become operational in Cameron Parish, La.; Hackberry, La.; Cove Point, Md.; and Corpus Christi, Texas. The Energy Information Administration projects that U.S. LNG export capacity will reach 8.9 billion cubic feet per day (Bcf/d) by the end of 2019, making it the third largest in the world, behind Australia and Qatar. The tariff war with China has the potential to impact some final investment decisions for additional terminals in the coming months.